Educational Solutions and School Financial Needs Resolution From FirstBank

In its usual custom, First Bank of Nigeria Limited is supporting schools
with their business requirements to promote preparations for the school year.
This, the Bank achieves through its array of educational based products and
solutions targeted at enabling schools acquire their required educational
facilities to boost the continued expansion of their schools whilst empowering
parents and guardians to seamlessly send their wards back to school.

The Bank’s educational products and solutions include the FirstEdu Loan,
Operational Vehicle Loan, Term Loans for constructing new sites and extension
of existing sites, Personal Loan against Salary (PLAS) and Salary Overdraft
(SODA) which enhances parents’ capacity to pay their children’s school fees.

The FirstEdu loan is targeted at private Nursery, Secondary and
A-Levels schools. The product offers opportunity for private schools to access
flexible funding to meet urgent cash flow needs, replace old furniture and
equipment, as well as refurbish dilapidated buildings and classroom blocks.
With this product, school owners/proprietors can stay ahead of competition in
providing educational services and support to the target population by
maintaining acceptable standard infrastructure at all times. This product allows
the customer access up to N10 million with no tangible collateral required
apart from the domiciliation of school account with the Bank. This reduces the
cost of borrowing to the customer and eliminates the challenges posed by the
provision of additional demanding collaterals.

The Operational Vehicle Loan is targeted at registered
businesses. It allows the entrepreneur to acquire brand new vehicles for the
day to day operation of the business. Organisations can take advantage of this
facility to purchase school buses in the case of school proprietors and even
upscale their staff welfare schemes through provision of staff buses. The
product terms and conditions is competitive.

Personal Loan against Salary (PLAS) offers customers in paid employment access to cash to meet immediate
financial needs such as payment of school fees, medical treatment, holiday
expenses, etc. PLAS has a flexible repayment plan spread up to 48 months for
our customers’ convenience. There is no equity contribution or collateral requirement.

The Salary Overdraft Account (SODA) is also available to
customers who want short tenured overdraft to meet immediate financial needs.
SODA can be dispensed as a one-off overdraft for 30 days with up to 40% net
salary and a revolving overdraft for 90 days with 25% of applicant's average previous
3 months net salary.

Only a salary account will qualify one to access PLAS and SODA if one
works with any of FirstBank’s approved list of employers.

FirstBank’s educational facilities are offered without collaterals. So
as the new school term resumes, the Bank has the right products just for you
and is poised to constantly provide the platform to support the life styles of
its teeming customers. Customers and stakeholders are enjoined to visit any
FirstBank branch for further information about its school solutions.

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West
Africa and the leading banking services solutions provider in Nigeria. With
some 14 million customer accounts, FirstBank provides a comprehensive range of
retail and corporate financial services with over 750 business locations. The
Bank has international presence through its subsidiaries, FBN Bank (UK) Limited
in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia,
Guinea, Sierra-Leone and Senegal, as well as a Representative Office in
Beijing.

Since its establishment in 1894, FirstBank has consistently built
relationships with customers focusing on the fundamentals of good corporate
governance, strong liquidity, optimised risk management and leadership. Over
the years, the Bank has led the financing of private investment in
infrastructure development in the Nigerian economy by playing key roles in the
Federal Government’s privatization and commercialization schemes. With its
global reach, FirstBank provides prospective investors wishing to explore the
vast business opportunities that are available in Nigeria, an internationally
competitive world-class brand and a credible financial partner.

FirstBank has been named “Most Valuable Bank Brand in Nigeria”
six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine”
of the Financial Times Group; and “Best Retail Bank in Nigeria” for
seven consecutive years, 2011 - 2017, by the Asian Banker International
Excellence in Retail Financial Services Awards. Our brand purpose is to always
put customers, partners and stakeholders at the heart of our business, even as
we standardize customer experience and excellence in financial solutions across
sub-Saharan Africa, in consonance with our brand vision “To be the partner
of first choice in building your future”. Our brand promise is to always
deliver the ultimate “gold standard” of value and excellence. This commitment
is anchored on our inherent values of passion, partnership and people, to
position You First in every respect.